A new law, passed by the House of Representatives in Cyprus on Friday, will seek to regulate holiday rentals listed on airbnb, Booking.com and similar sites.
Owners of properties listed on these popular sites will now have to register with the state under the law passed by the House of Representatives which covers both new and existing accommodation.
After prolonged debate MPs scrapped a clause which would have made it mandatory for apartment owners to obtain the consent of the building’s management committee prior to renting their properties.
The law will see a register created and maintained by the Deputy Ministry of Tourism and owners will be provided with a registration number once they have completed the required registration process. Online holiday rental platforms such as airbnb & Booking.com will ensure those wishing to advertise a holiday rental in Cyprus add their registration number.
In addition, according to Tourism minister Savvas Perdios, the two main platforms have also agreed to provide authorities with transaction information which may be helpful for taxation purposes.
An amendment to the bill will give existing advertisers up to two years to register – new advertisers will be required to register immediately.